Morning Market Update

by Gary Good morning Team! Seeing lots of green on the screen this morning and some notable strength in tech stocks.

Also seeing strength back into some Crypto names like $RIOT, $MARA and presumably $VYGVF and #Bitcoin and #Ethereum reaches new highs. The timing is not by accident as we are getting closer to the Coinbase IPO. It will trade under the ticker $COIN. This is pretty huge for the Crypto market and Coinbase is making a ton of money right now which I think could bring money into the stock as some investors prefer Stock exposure to Bitcoin than owning the actual asset itself. I want to say thanks again to Brett and Matt who have been doing some great content for the forum but also the other members who have been helping hands to those who are interested and curious about the space. I’m of the mindset that we’re really in this journey of learning together and some are just a little farther down the road than others.

I’ve been doing a lot of deep thinking lately about success and what separates the people who are successful from those who fail. There’s not much difference to be honest. It’s rarely based on skill or upbringing. It doesn’t matter if you come from money or were given money to start with. The real difference between those who succeed in trading and those who don’t is just about DECIDING. Those who succeed have chosen discipline. They aren’t better. They’ve just chosen to focus on their one style of trading and be the best they can at that.

If you haven’t made that choice yet, there’s no better time than now. Decide what kind of trader you are, what your signals are, what your exit needs to be and then stick to that. As soon as you do that, you’ll stop chasing your tail and start walking down the path of focus. You’ll know exactly what is and what isn’t your trade. It doesn’t mean you’ll go from zero to hero overnight, because it does take time but you’ll start to see little glimpses of success and give yourself something to build off of. When I was just a retail guy playing around my results reflected that. When I decided what MY Setups were and what signals made sense to me, the game changed.

Decide what kind of trader you want to be and then say NO to anything that isn’t that.

Write it down. Keep it in front of you. You’ll still have those urges to take those shiny object trades but by deciding not to, you’ll build more will power and feel more comfortable in your system.

Hope that helps!

I’m watching some Social media stocks this morning: $PINS $SNAP and $TWTR are building some nice Daily Flags that are worth keeping on your list. Also still watching the $SMH Stocks that I mentioned last night. Keep an eye on $NVDA and watch to see how it reacts after yesterday’s move. That volume was awesome.

Also, keep an eye open for @Dan’s tutorials this week that he left for us as he’s vacationing in Mexico. He’s been posting some pics on his Twitter and they look great!

Let’s have a great day!

Scott

Market Update